Despite opposition (see “Tarnished reputations”, Letters, December 6, 2008) to your claim on America needing, “…better MBAs, not more PhDs”, I believe your overall assessment of “Innovation in America” to be spot on. Perhaps the best book ever written on the subject, “Innovation and Entrepreneurship” by Peter F. Ducker, reinforces your views and conclusion that capitalising on, commercialising and application of an invention has more economic benefit than original theories, thoughts and ideas.

We as a community of people (and as Americans, including our next administration led by President Obama) who are impacted by the current crisis in the global economy would be well-advised to remember that Drucker taught us to, “Seize on a crisis as an innovative opportunity.” (p.73)

There have been other severe economic down cycles, such as in the 1780s where (according to “Inventing America”, the most popular history book now used in American colleges), “Adversity is what people made of it, and Americans made it the occasion for a series of innovations, some of which laid the foundation for an explosive future expansion.” (p.218)

Let us hope we can likewise seize on this economic crisis and use the occasion as an opportunity not only to recover, but for future expansion. In order to our turn pain into national gain, perhaps we should also be doing what we can to assist entrepreneurial pursuits of small businesses who create the majority of all the jobs and, according to Drucker, happen to be the best innovators in America. Which means along with questioning the financial bailouts of large corporations and their CEOs, we should also ask ourselves, “What incentives exist in the newest financial rescue packages to engage the owners of small companies?”

As to the MBA programmes and business practices alleged to have contributed to America’s recent financial crisis (mentioned by reader Mike Lloyd from Melbourne, December 6, 2008), the 100,000 MBAs who graduate from American b-schools each year should come to terms with the virtues of both financial and non-financial performance as taught through lessons in corporate social responsibility (CSR) and the ethics of leadership. There is at least one segment of the MBA population who understands this to be true and acts appropriately – MBA graduates who have a background in the military. In the services, young men and women from all racial and ethic backgrounds practice leadership in life-threatening situations and learn about causes far greater than their own personal or financial gain. This is why MBAs with a background in the military command more job offers and better pay than traditional MBA students following graduation. A fact which is corroborated inside of corporations via a report by the Economist and Korn/Ferry, which studied the performance of CEOs in S&P 500 companies who either had or did not have background in the military.

If more b-schools focused on enrollments of military veterans and corporations recruited military MBAs into leadership positions, we would better corporate America which would certainly be a step in the right direction. And, since we are currently in an economic crisis, let us use it as an opportunity to improve and make progress through innovation in America and in the world.

A Patriot@Sam Adams,I grew up in Canada, where my friends came from all walks of life and different racial backgrounds. Unlike our Southern cousins, we weren’t uptight and even had a sense of humour (at a very early age my Black friend in the choir telling me he would sing the Black notes while I should sing the white ones.)It was only when I moved to the US, and had a Black partner that I experienced prejudice as a daily event – and at all levels of society. from on the streets (hey – what ya hangin’ around with tha’ white meat for…) to the top of the corporate world (why don’t you go out with one of your own kind?) we experienced surprise, ignorance and insult.We were mugged in France – (by Africans) – it was only in England and Canada that we felt comfortable because people really didn’t appear to care what your racial or religious background was, but what you were like as a person.Somehow, it’s more encouraging to be called asshole, jerk, bitch or twat than “White Meat or Nigger….In Canada, unlike the US, having someone who is “not white” in a position of power and responsibility is not a big deal at all, whereas in the US, it is a quite recent phenomenon, and truly revolutionary. It just shows how much the US is slowly advancing towards the sort of “irrelevant” society that has always existed north of its Border.Canada, like Britain, is part of a constitutional Monarchy. One of the responsibilities and powers vested in the Monarch, and her representatives – (the Governor Generals) is protecting her people from their elected representatives – they can dismiss the Prime Minister, install a caretaker, dissolve parliament and call an election, such as was done in Australia in 1975. Since they are un-elected, like the US Supreme Court, they are expected to have impartial views, and truly represent the people. Michaëlle Jean’s has used her prerogative as Governor-General to suspend Parliament until January, which is the most sensible solution to the current crisis.I agree, Canada has no relevance at all. Especially as a peaceful country that has the highest living standard (or number 2) in the world, a decent educational system, universal health care, lots of unexploited natural resources, and well multi-racial tolerant citizens who actually get along with each other. Let’s face it, no one needs a shining example of how things can be. Not relevant all.

In this digital age, your news postings look out-of-date. I have enormous respect for your analysis of international dynamics and I don't think I knew anything about American until I read about us is a 1998 edition! But, your site needs to be very timely to be useful.

Yes, come to think of it, the Reagan administration magnanimously offered independent Nicaragua “a free hand with respect to [its] internal policies”. And I’m sure that from the outset the intentions of Bill Casey et al. went no further than interdicting the trickle of supplies that got through to the FMLN, while the poor government of El Salvador had to bear up unaided of course.

The notion that banking is the second oldest profession can be eagerly disputed by the Economist authors, since it is another common belief that journalism is actually the second oldest profession after prostitution. However, it is really hard to tell these two apart in some countries. But now that the world has plunged into the financial crisis, the bankers are probably the more despised caste of the three.

The problem with Canada is that our election system rewards national trends at a time when the country is splitting into different ideological regions. The thoughts that prevail in Toronto no longer prevail in Vancouver or Montreal. Canada is no longer a country of 2 solitudes but 15, 16 or even more; and none of them geographically concentrated. Our election system solely rewards geographically concentrated political movements.Our 3 founding cultures are becoming increasingly unreconcilable as the Anglophones are killing the Aboriginals while berating the Quebecois (just read up about Stephen Harper's government's dealings with Aboriginal communities in Northern Ontario; and the 7 minutes of my TV-watching time that Stephen Harper stole). Southern Ontario, which has always been the bridge between the Anglophone and the Quebecois mentalities is going through a deep depression of a scale never seen before in most Ontarian's lives. Stephen Harper is the worst Prime Minister for Canada to have at this historic juncture in Ontario's life; as he is not a nation-uniter but a nation-divider. The harm he is causing to Anglophone Canada's inter-ethnic relations with Quebecois and Aboriginals may never be repairable. He is bringing Canada to become the stereotype of America during Bush's 8 years of reign. I, for one, hold Stephen Harper, Prime Minister of Canada, and James Flaherty, Finance Minister of Canada; personally responsibe for not mitigating the depression in Ontario when they could have easily done so in August 2007. Ontario quality-job creation has been lagging ever since the Liberals left power, and in Ontario it is now impossible for the average person to support more than two persons on one person's income. At a time of rising senior populations, for those Ontarian families with kids and grandparents living in the same house, it is becoming impossible to afford any kind of luxury. The healthcare crisis in Ontario is further compounding this as it is becoming impossible for Ontarians to access preventative healthcare, even though its supposed to technically be free.Since Stephen Harper is not man enough to tackle these problems; he does not deserve to be the Prime Minister of Canada. When the traditional backbone of Canada's economy is in a deep depression, using the Federal Budget solely as a toy to play politics with is not what the Finance and Prime Ministers of Canada should be doing.Sure some Canadians may say: look at Stephane Dion, he's not leadership material; but consider this: when push comes to shove Stephane Dion is much likelier than Stephen Harper to poll his party to see what solutions others can offer to crises that may pop-up. Stephen Harper is a control freak surrounded by yes-men. Does Canada really still want him to be our Prime Minister?Frankly, though, as an immigrant to Canada who loves its multi-ethnic tolerant cities but as an Ontarian who can't bring himself to trust the NDP; if I could vote for him; I would have voted Bloc Quebecois. Because Quebec and Ontario are intensely alike, and whatever Gilles Duceppe would have done to promote Quebec interests would also boost Ontario. And as for calling the Bloc separatists, that is a lot like calling Vladimir Putin a Communist.

Sorry U Sheak, the coalition is dead my local mp is getting an ear full for getting in bed with the NDPand the Bloc but if the left vote it down on 27th. we will all be back at the polls on March 17th st.Patrick's day know less an the Economist will win

The opposition attempted coalition should not be deterred. It is not a political coup, it a political innovation for our time in Canada.
What has unfolding in Canadian politics is very historical. Like in the USA, Canadians are finally getting engaged in their domestic politics and the governance of their Nation.
What is very sad though is how little Canadians know about their political system.
The truth and fact of the matter is that Harper and his Conservative government has failed Canada at a time of great economic leadership. Harper and his team are now using Canadian political ignorance, the dislike of the opposition leader and purported allegations that the coalitions would be government are in bed with “the separatist party to destroy Canada." Shame.
The Harper government should give way for a new change. It is not undemocratic to do so. The parliamentary system clearly states that.
Harper failed during the election to deal with the economy until the very last days of the elections when the other parties made it a point.
He had a golden opportunity with the thrown speech, but yet again failed by underestimating the impact of a collective action of the other parties.
The joint agreement or memorandum of understanding is very clear as to their relationship and that their number one agenda is the “economy” with a time limitation.
The opposition attempted coalition should not be deterred. It is not a political coup. It was prompted by a government economic statement on November 27th, 2008. Jim Flaherty, the finance minister, offered no new measures to stimulate the economy at this great time of good and sound political leadership
Mr. Harper and his government have failed Canadians, period.
So what if Canadians are not in love with Mr. Dion?
This is not about love matter of Mr. Dion. He is still the political leader of his opposition party. He has agreed to drop his unpopular carbon tax (he now backs a cap-and-trade system for carbon emissions). Mr. Layton has dropped his previous opposition to cuts in corporate taxes and the Bloc Québécois is on their side and its parliamentary members were all legally elected sad as it my sound, but they are not criminals, they represent the mandate of many Canadians and as such deserve respect from Mr. Harper and his government to say the least. It is time the coalition gets this political new ball rolling in Ottawa.
I think the Coalition government in Canada like in Germany, is now inevitable and Canadian better get use to it. It will serve as an alternative system of government that will help Canada as it has over the many years helped in Germany since the Second World War.
I'll end by calling for Canadians to wake up. Under the constitution, it is the governor-general’s prerogative to invite a party leader to form a government, with or without an election and time for it.

"A Patriot: It seems strange to mention her at all since she doesn’t exercise any real power."Completely incidentally, this comment was posted in the same issue of Economist that reports the governor-general of Canada has just suspended the Parliament. Perhaps not that much a political puppet this Ms. Jean after all.